Geode Capital Management LLC Trims Stake in Aviat Networks, Inc. (NASDAQ:AVNW)

Geode Capital Management LLC cut its stake in shares of Aviat Networks, Inc. (NASDAQ:AVNW) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 270,948 shares of the communications equipment provider’s stock after selling 11,219 shares during the period. Geode Capital Management LLC’s holdings in Aviat Networks were worth $5,861,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. NBC Securities Inc. bought a new position in shares of Aviat Networks in the third quarter worth about $62,000. Dynamic Technology Lab Private Ltd bought a new stake in Aviat Networks during the 3rd quarter worth approximately $263,000. BNP Paribas Financial Markets lifted its holdings in Aviat Networks by 635.0% during the third quarter. BNP Paribas Financial Markets now owns 14,244 shares of the communications equipment provider’s stock valued at $308,000 after purchasing an additional 12,306 shares in the last quarter. Barclays PLC boosted its position in shares of Aviat Networks by 298.0% in the third quarter. Barclays PLC now owns 15,928 shares of the communications equipment provider’s stock worth $344,000 after purchasing an additional 11,926 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of Aviat Networks in the third quarter worth $357,000. Institutional investors own 78.62% of the company’s stock.

Aviat Networks Stock Performance

NASDAQ:AVNW opened at $18.40 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.72 and a quick ratio of 1.40. The company has a market cap of $233.50 million, a price-to-earnings ratio of -59.35 and a beta of 1.72. Aviat Networks, Inc. has a 1 year low of $12.95 and a 1 year high of $38.85. The stock’s 50 day simple moving average is $16.93 and its two-hundred day simple moving average is $22.74.

Aviat Networks (NASDAQ:AVNW) last released its quarterly earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. Aviat Networks had a negative net margin of 0.98% and a positive return on equity of 4.94%. The company had revenue of $116.66 million for the quarter. As a group, equities analysts anticipate that Aviat Networks, Inc. will post 1.13 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AVNW shares. B. Riley lowered their target price on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. StockNews.com lowered Aviat Networks from a “hold” rating to a “sell” rating in a research note on Thursday, November 7th. Roth Mkm cut their target price on Aviat Networks from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, November 6th. Northland Securities lowered their price target on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a report on Tuesday, October 8th. Finally, Lake Street Capital cut their price objective on shares of Aviat Networks from $45.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Aviat Networks has an average rating of “Moderate Buy” and an average price target of $38.60.

Insider Activity

In related news, CFO Michael Connaway bought 3,500 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were purchased at an average price of $14.13 per share, with a total value of $49,455.00. Following the transaction, the chief financial officer now owns 57,893 shares in the company, valued at $818,028.09. This trade represents a 6.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Pete A. Smith purchased 3,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average price of $14.13 per share, with a total value of $42,390.00. Following the completion of the transaction, the chief executive officer now owns 298,539 shares of the company’s stock, valued at $4,218,356.07. The trade was a 1.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 7,400 shares of company stock worth $106,110. 4.10% of the stock is currently owned by corporate insiders.

Aviat Networks Profile

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.